Safran : Preview T3 – Tendance similaire au T2 et incertitude sur le T4
>Un T3 dans la lignée du T2 - En ligne avec les anticipations de la société, nous tablons sur un T3 (publication le 30/10) relativement similaire au T2 suite à la dégradation du trafic aérien visible en septembre. Nous modélisons un CA en recul organique de 43% à 3 341 M€ (cf. tableau page suivante) dont i/ 1 502 M€ (-50%) pour la Propulsion, pénalisée par un recul de 66%e de l’après-vente civile, soit le même ordre de grandeur que lors du T2 ; ii/ 1 472 M€ (-32%) pou...Safran designs, develops and manufactures high technology electronics through three businesses: Aerospace, Defense and Security. Aerospace includes Aerospace Propulsion (propulsion systems for commercial aircraft, military transport, training and combat aircraft, rocket engines, civil and military helicopters) and Aircraft Equipment (mechanical, hydromechanical and electromechanical equipment); Defense (optronic, avionic and electronic systems); and Security (biometric technologies for fingerprint, iris and face recognition, identity management products, access management and transaction security, including tomographic systems for detection of dangerous or illicit substances in baggage).
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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